Welcome to our dedicated page for Carrier Global Corporation news (Ticker: CARR), a resource for investors and traders seeking the latest updates and insights on Carrier Global Corporation stock.
Carrier Global Corporation (NYSE: CARR) is a leading provider in the heating, ventilation, and air conditioning (HVAC), refrigeration, and fire & security sectors. The company serves both residential and commercial markets, with the HVAC segment contributing significantly to its revenue—60% from commercial and 40% from residential markets. Carrier's refrigeration segment includes transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The fire and security division manufactures a range of products, including fire detection and suppression systems, access control, and intrusion detection solutions.
Recently, Carrier has been actively transforming its portfolio. In April 2023, the firm announced plans to divest its fire and security and commercial refrigeration businesses. This strategic move was complemented by the acquisition of Germany-based Viessmann Climate Solutions for approximately $13 billion, aiming to bolster its climate and energy solutions offerings.
In a recent announcement on March 5, 2024, Carrier entered into a definitive agreement to sell its Industrial Fire business to Sentinel Capital Partners for $1.425 billion. This sale includes prominent brands like Det-Tronics, Marioff, Autronica, and Fireye. The transaction, expected to close in the third quarter of 2024, will allow Carrier to focus on its vision of becoming a global leader in intelligent climate and energy solutions. The firm plans to use the proceeds from this sale to pay down debt and resume share repurchases.
Carrier continues to innovate, recently leading an investment in Strategic Thermal Labs for a revolutionary liquid cooling solution for data centers. This initiative aligns with the company's goal to enhance energy efficiency and support high-density computing needs. Additionally, Carrier's financial performance remains strong, as evidenced by its robust first-quarter 2024 results showing a 17% increase in sales, bolstered by the Viessmann acquisition and organic growth.
Further solidifying its transformation, Carrier successfully sold its Global Access Solutions business to Honeywell for $4.95 billion, marking a significant milestone in its portfolio realignment efforts. This transaction is part of Carrier's broader strategy to focus on high-growth, high-margin segments within the intelligent climate and energy solutions market.
Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend of $0.15 per share, payable on August 10, 2022, to shareholders recorded by June 23, 2022. This action reflects the company's commitment to returning value to shareholders while maintaining its focus on delivering healthy, safe, and sustainable building solutions. Carrier is recognized for its innovative technologies and diverse workforce dedicated to customer satisfaction.
Carrier has partnered with Marketing 360 to provide cutting-edge digital marketing tools to its HVAC dealers. This collaboration aims to enhance the marketing capabilities of Carrier's contractors, facilitating business growth through the Marketing 360 platform. The platform offers a wide range of services including payment processing, CRM, and automation tools, designed to help HVAC businesses scale efficiently. With this initiative, Carrier reinforces its commitment to delivering superior digital experiences for its channel partners, ensuring they stay competitive in the market.
Carrier Global Corporation (NYSE:CARR) will have its Senior Vice President & Chief Financial Officer, Patrick Goris, speak at the Wolfe Global Transportation & Industrials Conference on May 24, 2022, at 9:10 a.m. ET. The event will be accessible via a live broadcast on ir.carrier.com, with a replay available afterward. Carrier is a global leader in building and cold chain solutions, dedicated to sustainability and safety. For further details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) announced that Chairman & CEO David Gitlin will speak at the 2022 Goldman Sachs Industrials and Materials Conference on May 10, 2022, at 1:00 p.m. ET. The event will be available for live streaming at ir.carrier.com, with a replay accessible post-event. Carrier, a leader in building and cold chain solutions, focuses on creating healthy and sustainable environments. For more details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) reported Q1 2022 net sales of $4.7 billion, a 1% decline from 2021, while organic sales rose 10%. The company's operating margin surged over 2,500 basis points due to a gain from the Chubb divestiture, resulting in a GAAP EPS of $1.58 and an adjusted EPS of $0.54. Despite $202 million in net cash outflows from operating activities and $258 million in free cash flow usage, Carrier reaffirmed its 2022 outlook, projecting sales of approximately $20 billion with organic growth in the high-single digits and adjusted EPS between $2.20 and $2.30.
Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend of $0.15 per share, payable on May 19, 2022 to shareholders as of April 29, 2022. This decision reflects the company's commitment to returning value to its shareholders while maintaining a focus on sustainable growth. As a leading provider of building and cold chain solutions, Carrier continues to prioritize customer needs and innovation.
Carrier Global Corporation (NYSE:CARR) is set to release its first quarter 2022 earnings on April 28, 2022, at 8:30 a.m. ET. A conference call and webcast will follow the announcement, allowing stakeholders to gain insights into the company's financial performance. Interested parties can access the presentation and replay the call via the Investor Relations website. The company emphasizes its commitment to being a leading global provider of safe and sustainable solutions, aiming to enhance customer experience and operational efficiency.
Carrier Global Corporation (NYSE: CARR) has announced the Reference Yields for its cash tender offers, aimed at repurchasing up to $1.15 billion in outstanding senior notes. The offer includes a specific cap of $800 million for 2.242% Senior Notes due 2025, with the settlement anticipated on March 30, 2022. The tender offers are set to expire at 11:59 p.m. on April 11, 2022. The Total Consideration for the securities will be calculated based on a Fixed Spread plus the Reference Yield for each series. The company reserves the right to modify these terms as needed.
Carrier Global Corporation (NYSE: CARR) announced early results for its cash tender offers on March 29, 2022, with a total purchase limit of $1.15 billion across its outstanding senior notes. The Company has designated a maximum of $800 million for its 2.242% Senior Notes due 2025. As of March 28, 2022, approximately $929.5 million of these notes were tendered, accounting for 46.48% of the outstanding amount. The offers will expire on April 11, 2022, and are subject to various caps and conditions outlined in the Offer to Purchase.
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